Port Vale have entered into a confidentiality agreement with a prospective buyer of the struggling League Two club and their ground.
The club, who were initially put up for sale in 2016 by owner Norman Smurthwaite, issued a short statement confirming the development.
The statement read: “Port Vale Football Club would like to confirm that they have reached a “significant” point in the process of finding a buyer.
“The Club has entered into a Confidentiality and Exclusivity agreement with Carol and Kevin Shanahan regarding the purchase of the Club and Vale Park in their entirety.”
The club added that officials have undertaken “a great deal of dialogue” with the interested parties, who have made previous attempts to buy the club and the ground.